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, these are noises that you made to sound conciliatory after an election, and we think back to 2009. the republicans sounded very conciliatory in the days after president obama's reelection when he was holding a high approval rating, but by april or may of his first year that that had melted away. so right now is happy talk from the republicans. we will see whether that materializes into votes. lou: such happy talk, why aren't there more smiling faces in the republican party? >> pretty unhappy talk from what i can tell, and to this point pretty frivolous. you see members of the united states senate demand is not even their negotiations, but taking a timeout to beat up on grover norquist to is some on elected activists type who was not a player in this and does not have a seat at the negotiating table, was not elected. what does he have to do with any of this? is seems to me this is the opportunity for the republicans in the house, but also to some extent in the senate to explain what they want to know what kind of entitlement cuts that will demand. instead they're beating a boy norquist. lou: we als
or -- >> absolutely not. they're stonewalling at every turn. they ran out the clock before the election. the president says now that the election is over, we'll cooperate. the most basic information about what happened on the night of the attack, and what survivors had to say after the attack is not being provided, and we'll talk more about that tomorrow. but long story short is i know very little from this administration about what happened in benghazi. what i'm finding out on my money makes me very upset. >> greta: is ambassador rice trying to test the waters if she's nominated? >> i have no idea, but i'll be glad to talk to her. again, it's not just about her. why did the president seven days after she spoke write this off as a video-inspired event when it's pretty clear to everybody early on this is a terrorist attack, in a coordinated way. there was no mob that turned into a riot. the riot that i've seen doesn't include heavy weapons and mortar trucks. >> greta: do i take it you're going to ask her direct questions? >> i'm going to ask her straight, direct questions because it's my job. president
through the election. and they're handing out flyers all over the heartland of the country, obama is not going to take your guns, they're trying to fog the election and get through the election, but if they do, it's katie bar the door. stuart: yes indeedy, look at black friday. next hour we'll talk to the gun store owner who took out the ad in the paper. if you voted for barack obama, your business is not welcome. it's been great for his business. he's on the show the top of the hour coming up. perhaps all research in motion needed was "varney & company" to put it on death watch. since we did so, the stock is up 5 #% in one month. 70% up in three months, a lot of positive buzz surrounding the blackberry 10 due the end of january and the stock has gone straight up despite our death watch. maybe we should put microsoft, a stock that i own, on death watch. take a look at the video please, two armed robbers made off with nearly $100,000 in black friday cash. the two men hid in a target store in new jersey, after it closed, they entered the cash room, that's where cops say the men tied
of elections,ue soe thought we would get right to io and just show h you a fewou a fs consequences of yesterday's vote tallies and the cost thereof. cost, by the way, to you, me, and our fellow citizens.izens. the way, anybody who is under the illusion that this just affect those are making over a million dollars a year, please understand, we are going to introduce rality. grab hold of your chair if you have one nearby. we will talk about the consequence and the cost very quickly. twenty new obamacare taxes kick in, and in that 8389% investment income tax right in behind. and this means that, well, everybody is going to see just under percent added to their capital gains, even the sale of your house, folks. wait a minute. on middle-class. i just want to be in the middle class. they tell me that wouldn't happen. it's going to happen. on every transaction over a quarter million dollars. $86 billion in medicaid payroll tax kicking in. 65 billion individual employer mandated tax, another 20 billion in medical device tax, and the bush tax cuts are going to go away the first of the year. hang on. tha
and medicaid. >> elections come and go. and when they go the spirit to find common ground becomes greater. >> reporter: georgia republican saxby chambliss and mark warner lead the gang of eight. four senate democrats and four senate republicans, who originally met in 2007 to craft a plan to cut the debt. >> you still don't have a final product after 2 1/2 years. why do shud we have any confidence that the president and the leaders should get anything done in the next two weeks? >> anything we look at we won't completely reform the tax code or completely make all the changes in the entitlement programs in the next seven weeks. over this last 2 1/2 years, we all know where the issues are. can we make enough of a down payment to assure the markets and put a real process in place that will allow us to work through this? >> reporter: chambliss says he and other republicans still oppose hiking tax rates on the wealthy, a move they contend kills jobs. instead, republicans propose limiting tax deductions for high earners. eliminating the mortgage deduction for second ho
in the last election in terms of fixing the programs. >> having said that, a lot of people say i paid into social security and i deserve that. i don't see how medicaid can hold out. i think that's going to collapse a lot sooner than any economist we be forecast. >> there's a good reason why i agree with you. that may be the fastest entitlement program. here is the reason why. not because it's bankrupting washington, because they have been for 15 years. the reason is because it's bankrupting the state. states pay about 40% of the cost and every governor that i talk to, they say that we can't afford this anymore. it is becoming the top of our budget. i agree with you. that could be the program that we fix first. charles: predent obama is in and more people want out. tens of thousands of people are signing petition to secede from the union. we have ron paul on the phone right now. it sounds like you have gotten behind this. you are the biggest name attached to this so far. why do you think this is a good idea? >> well, i haven't taken the positionthat this is a good idea, but the princip
. and then the election, they still didn't want to do anything. resolving the fiscal cliff will not make them feel any better because the resolution will be higher taxes. >> absolutely. and that is where businesses throw out, chamber of commerce, is ask why they are not doing something, it is uncertainty. they ar paid to manage in uncertainty. there's just a lot of nonsense. the economy is not moving along very well. the discussions will not resolve the fundamental problem from exploding entitlements and mammoth increase in spending imposed on america and now want americans to validate, that is why they are not investing. melissa: it is so true. a timed everybody blamed the weather. unseasonably cold or hot. this all makes me pretty depressed and makes me feel like the economy will not get better anytime soon. >> by reelecting barack obama, he will not create jobs for them. we have seen for years worth of his tricks, and what have you dy talk about doing besides raising taxes. more jobs creation programs. it seems like stimulus. why would $1 trillion of stimulus not work? it does not make any sense to
promised the people of egypt when you were elected president. >> reporter: now the egyptian president is putting himself above zwrui additional oversight they stressed the move was only temporary designed to hold people accountable in the previous regime but nevertheless democrats are nervous. one leading senator was asked what message should obama give the egyptian leader. >> he has to express those concerns and say obviously we wanted this change to be not just democratic but also be supportive of stability and also minorities and human rights in egypt. >> reporter: with the danger of instability the egyptian stock market was down more than 9%. >> heather: thank you very much. >> gregg: new york con man peter king announced he will be stepping down from the committee. he is obligated to step down because of term limits self-imposed by the republican party as chairman he helped ensure that new york received crucial federal funding to help combat terrorism. his replacement is not yet announced. he will devote to his new time as the homeland's panel of counterterrorism subcommittee. >>
by ambassador rice and president obama three weeks before an election. >> shepard: rice said while we wish we had had perfect information, just days after the terrorist attack, as is often the case, the intelligence assessment has evolved. neither i nor anyone else in the administration intended to mislead the american people at any stage in this process. and the administration updated congress and the american people as our assessments evolved. democrats call it all pure politics. they won the election, but the opposition still fighting. so now showdown between the white house and house republicans over the president's choices for his cabinet. catherine herridge live in the dc news room. it sounded like they were ready to dial this back. but they've dialed it up instead. >> they have. within the last hour, this from the three senators disputing white house claims that statements about benghazi are a closed matter, that there are no unanswered questions. the senators saying this morning the acting c.i.a. director morell told them the al-qaeda references were dropped in the c.i.a. talking poin
on israeli security? >> i think it absolutely should. what we saw even before the election here in the united states is that netanyahu has said time and again even in the face of critics that there has been no stronger ally to israel than the united states. the criticism kept comincoming, though. after this incident, i really do think the critics will be quieted. there's a lot of talk about how successful the iron dome program wus was. it deflected over 80% of the rockets that were fired into israel. president obama has committed more funding to iron dome. and i think that it really does cement the fact that this president and this administration has been a tremendous friend and ally to israel and that is not going to change. >> looking to the future, amy, with egypt's mohamed morsi stepping in to broker the peace, does it show that the region no longer needs the u.s. to take the lead role? certainly secretary of state hillary clinton was there, but maybe not a lead role anymore in this type of negotiation. >> no, and in fact, the united states was very crucial to president morsi negotiating
. remember how quickly he threw away his 70% approval rating from the 2008 election, when he went with the spend, spend, spend approach. he's now walking in with a 50-plus percent approval rating and going for tax and spends, tax and spend. i think he'll find his approval, begin to continue its way down from where it was when he first ran. and secondly, the republicans won the house of representatives, and they won it after redistricting, which means they're all running in the same districts for ten years, so, that republican majority is here for a long time and it's fairly comfortable, they're not going to be pushed back or bullied around. the president's gone in four years, the republican house is there for ten, and they all won, having voted for and debated and discussed and explained, the ryan plan, which is entitlement reform and tax reform. it is a tougher house than we've ever had capable. >> grover, i'm looking at your picture in the new york times of all places, your picture is in the new york times yesterday, saying-- i can't hold it up because, it's there. okay? there h
they opened election day, shannon. >> thank you, anna. >> and this will probably be the last thanksgiving with large numbers of american combat troops in afghanistan. about 66,000 service members are still there and they celebrated thanksgiving with some of the holiday trappings of home. most americans troops are supposed to be out of the country by the end of 2014. the salvation army in canada says it's been overwhelmed by offers of help, following the theft of 2 million dollars for toys and donations and it's believed as many as 100,000 items are for the organizations to run a warehouse over a two year period. and a local toy company is donating $100,000 worth of toys and the salvation army in ottawa have been fired. of course donations like those here in america are like those tax deductible and with the u.s. approaching a fiscal cliff, there are rumblings of big changes and some could impact charity. the and here is the national correspondent tim angle. >> thanksgiving, a time to relish one's blessings and help the less fortunate. >> in the scramble to avoid the fiscal cliff, both the
governments of unfunded liabilities just to the public employees. melissa: we just had an election. people do not believe that. lou: i do not understand. the election was not about unfunded liabilities. melissa: fundamentally about the size of government and people voted bigger. lou: i must have missed that. the republican party has grown government and assume advisers to government -- governor romney were the same as president bush. melissa: is seen as the boat to four obama was bigger government. lou: and the vote for mitt romney? i am saying the intellectual integrity of the moment acknowledging it is the size of government if we can't sustain them and the social safety net programs in perpetuity when we're trillions of dollars in debt and for doing so. melissa: how do drive that message home? nobody is getting it. >> a lot of people are. but they're not being honest. there in the democratic party and if they continue to refuse what is reality, and then a cliff is a small thing and embedded for decades. it is not a pleasant experience. melissa: i am not excited. [laughter] i hear you. meli
of things going on in politics as ever. we had regional elections in spain. yields you can see slightly higher, but still well below 6%. now, these regional elections fairly important because we know catalonia has been pushing on on independence. now, it looks less likely we'll get that referendum, but not because people in catalonia are any less eager on a separatist movement. just that they didn't vote for the main guy who is proposing it. they voted for competitor party which is makes it slightly harder in the short term for them possibly to get a referendum going. so eases the pressure in the short term but means there is still a longer term problem there. catalonia is one of those regions that still has very large deficits, as well. so the politics in spain slightly skewed as they will be, but not so much pressure on rajoy at the moment. unlikely to ask for assistance in the short term. we also have another euro group meeting take, back in brussels, yes, i know, we seem to have one every week. they may come up with a long term financing deal for greece. finally talking about debt f
that he just won an election which he did. he also can nominate those that he thinks is best. it's also the job of the united states senate, according to the constitution, for advice and consent. and that's our role and i take that very seriously. >> bill: all right. on tax and funding, are we going to work this out here and what's the time line? >> well, they are not meeting this week which is interesting, so there doesn't seem to be as much a sense of sur urgency as the markets indicate. depends on both sides and what they view as a lesson of the election. the republicans maintain their majority in the house. the president won a victory. i think there is every responsibility that we could kick the can down the road for six months or so by just saying put everything on hold. also, if you are willing to going to solve this problem and address it you have got to go after entitlements everybody knows that's the third rail. that's why that part has to be bipartisan the way it was with at this point o'neil and ronald reagan. >> you think congress may pass a short-term extension of what see
to the west bank for 9:00 a.m. meetg with president mahmoud a boss. the elected political party in the gaza -- a power broker. they still considered a terrorist organization. clinton then departs from cairo to meet with egyptian president allegedly trying to broker a deal between israel and hamas, more than likely loong to preserve billions of dollars in s. aid is nation. president obama has requested more than one half million in congress. tonight we will examine the parameters of any so-called israeli gaza peace deal ad the real posibility that such a deal has in essence been stuck as -- struck already. been kept officially on hold until the obama administration could take some of the credit. some of the brightest minds in thebusiness. john bolton, fox middle east affairs analyst. in other major developments tonight, the world's most important banker doing ell street investors no favors real acquainting them instead with the scary parts of the fiscal cliff story. the federal reserve chairman spooking investors saying that the bank would not have infinite ability to address the fallout fr
that was dictated by the election results and it's dictated by the election results and the republicans can't be the people who hold back the entire movement of taxes and tax cuts extended for most people and i wish they could keep the highest tax rates slow where they are, because that's where the job creators are, and i think that the republicans will ultimately come to a deal and you know, they have to, otherwise, obama could hold it over their heads and beat them with it and claim that the republicans are the recalcitrant holdovers and i hope they don't do too much. stuart: i haven't heard anything on the other side of the fence, which is entitlement reform and spending cuts and that's ignored on the tax side of things. >> well, it's all politics, stuart. you know, they don't have to move right now. they just want to the let the republicans sit there and stew in their own juices, which is what's going on. the faster the democrats act the less political gain from the pressure under republicans. there's no real incentive for democrats to come out and be accommodative and they won't be unt
. their first sit down since the election november 6. tonight's record-breaking powerball jackpot is now up to $550 million. people lining up across the country for their chance to hit it big. if you think you're going to become an instant millionaire, here's a sobering stat. the odds are one in 175 million. those are your headlines. back to you. lori: thank you. melissa: are you sharing your lottery winnings with me? lori: yesterray i was on the fence, but i've decided i should be generous. melissa: in the summer knight capital was fighting for it survival after aaron's trading wiped out money from the balance sheet. but they find themselves in the middle of a bidding war as high frequency trading outfit tries to outbid their arrival. who has the advantage? which has the advantage. >> we report, you decide. i will lay ouu a couple of things. convincing the board to accept an all cash. from $3 plus. we don't know what the plus is, that could be a big thing. they're looking to do this by telling the board members, who actually like the ceo, tom joyce. he corralled the new investors when they
that the president was notified on the day of the election. clayton is here to guide you through the best black friday deals. >> you are a cool geek. >> black friday and saving hundreds of bucks stay tuned and grab your coffee. ♪ ♪ you better shop around. is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearlyndestructible laptops, and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most better. just another way we're engineering a better world for you. i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. because enbrel, etanercept, suppresses your immune system, it may lower your ability to fight infections. ser
, that in the weeks before the election, the obama administration tried to speed up the process of putting permanent rums in place when it comes to the unmanned drone strikes in case president obama did not win reelection. the new york times reports two officials were saying, so the new president would inherent new standards and procedures and jept and state department argued for more restraint. tragedy in bangladesh, a fire races through a garment factory killing at least 112 workers. many people were trapped at staircases gave way and there were no emergency exits. no word yet on the cause of this fire. this fire is reminiscent of devastating triangle shirt waist factory back in new york city in 1911 in which 146 garment workers were killed. and they started-- dave, what am i doing reading sports? >> go ahead, it's about gender and switching. >> alisyn: yeah. >> dave: and boys could have dolls and toys catalog and you can read a notre dame story. >> alisyn: you have to go with your strong suit. it's not about gender. >> dave: your daughters can play with the legos. >> alisyn: i'm going to do is ph
gained more than 1%. the dow closing above 13,000 for the first time since the election. this week, the focus turns back to the u.s. economy now the fiscal cliff talks are looking more promising and the election is behind us. new reports this week on the housing market, manufacturing sector and consumer data. also the second estimate for third quarter gdp comes out on thursday. the broadest gauge of the health of the economy and economists think that number is going to show better growth than we saw, 2.8% down from 2.2% that they had thought earlier. the fiscal cliff being, you know, something that really helped the stock market last week. >> i would imagine. >> don't screw up. >> please, congress, don't mess this up. let's take a live look this morning at the capitol dome where congress is back to work this week. s fiscal cliff staring them in the face. 35 days, we go right over that cliff or right down that slide or whatever the metaphor is we're using today. politicians on both sides of the aisle are now signaling that they're willing to compromise. that includes republicans who
roosevelts election derailed from the depression. >> gretchen: stewart varney went back to the 30s and fast forward here. >> not just me. first year of fdr's second term was 1937 and it was a terrible year for the economy. dow jones industrial was cut in half . unemployment 15 percent and it was a depression within the big depression of the 1930s. is the parallels between then and now. fdr raised taxings. president obama is going to raise taxes. many of the big themed policies of the first term of fdr were implemented in the second term. same with president obama and think obama care and financial reform . attacking wall street as the villian. president roosevelt did that . wall street was the villians and shades of that exactly. 2013 president obama wall street is the villiage and then the rearrangement of society. fdr tried to do it. and president obama is doing it and run away government spending. parallels are there and hope it doesn't work out like it did then. >> we want all americans back to work. and back in the 30s industrial plummeted 34 percent in the first year of the second ter
will stay on until a new government is sworn in after the elections. national elections in january. ehud barak is israel's most decorated soldier. he also served as prime minister. barak has been moderating influence with the united states and powers. his decision to quit politics comes at a time of uncertainty with israel. he has clashed publicly with the prime minister there benjamin netanyahu how to handle the threat from iran's nuclear program. folks at the macy's thanksgiving day parade spotted something strange. turns out some of the confetti was actually secret police files. coming up, how social security numbers and info on undercover cops and even governor mitt romney's motorcade ended unraining down ended up raining down on the crowds. second time in just days that a bird strike sparked a mid-air emergency. that's coming up as fox reports live tonight. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign the
. our president during the election, he himself embraced the three to one notion and referenced bowles/simpson. i think both sides understand that. i'm not believing that there's that much irresponsibility among leadership in washington. >> let me ask you about entitlements. it's unclear at this point as to whether democrats are seriously willing to put that on the table. if you listen to harry reid, the senate majority leader, it would certainly suggest they're not. the white house itself has said it considers entitlements, social security, and otherwise as a separate issue from the fiscal cliff. house leader eric cantor speaking this morning in washington about that very issue. i want you to listen and we'll talk about it on the other side. >> we have not seen any good faith effort on the part of this administration to talk about the real problem that we're trying to fix. i'm told that mr. bowles, as some of us will meet with him later today, had said earlier this morning there's been no serious discussion by the white house on entitlements, on medicare and medicaid. >> is that where
're part of a group called fix the debt which is calling on our elected officials to step up to solve the nation's fiscal challenges. a eamon javers speaking with them on capitol hill. >> i want to build on what bob pisani just said. there is no question markets are hanging on every word coming out of this capitol hill fiscal cliff debate but i'm not sure markets are getsing this right. listen to the speaker boehner sound bite that rallied the market earlier this morning. then on the other side i want to explain what he was actually saying there. take a listen. >> it's time for the president and democrats to get serious about the spending problem that our country has. but i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> now the market rallied on boehner saying he was optimistic. we saw a nice little balance in the dow jones after those comments came automatic. but the markets should not necessarily be rallying on everyone of these statements because lot of them are simply boiler plate, place holder kinds of statements that memb
to be in a trading just like when i saa you the last time before the election. i think they will sweat as. i think everybody will get scared. i think you will be an enormously wonderful buying opportunity for stocks that you like if they cause the market to go down a lot. lou: at which time can be still declare it to be christmas? >> one would hope. we have children. lou: thank you for being here. we will see how it plays out. we will hang on and keep our fingers crossed. white house spokesman says the president just is really impressed with the ambassador and does not care about the consequences of misleading the public on what happened there. we are joined in moments. and the so-called fiscal cliff dominating debate in washington d.c. a lot of talk. what about the finances in state capital all across the country? folks are kind of ignoring another source of -- well, let's say inched. take a look at some of the worst offenders in the "chalk talk" here next. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] e mercedes-benz winter event is back, no matter which list you're on. [ santa ]
and bipartisan effort now that the election is over. melissa: so you think he's your only go here? >> well, yes, we think that his efforts could make a huge difference. we were awarded this back in march of 2010. president obama awarded this to virginia, and unfortunately after the vp bill in april, our sale was initially postponed. then it was eventually canceled. what we are trying to do is reinstate the sale. melissa: how much oil are we talking about here, what with the estimates? what would it mean for you? >> well, the estimates, which are actually 30 years old, they were done 30 years ago. estimating 3.3 billion barrels of oil and over 31 trillion cubic feet of gas off of virginia. typically, these estimates are overproduce when they are actually developed. we think there is a substantial amount out there, and according to estimates, 31,000 jobs could be created by exploring that area. we think it's good for the economy. it's good for tax revenue. it is something that the president could do. >> i have followed this industry for a long time. these estimates are very conservative, there is
, elected representatives now saying, you know, i'm rethinking whether there should be a no tax pledge. >> true. that's on the senate side. on the house side, revenue was on the table a long time ago, as in last summer of 2011 and said if we reform the tax code, clear junk deductions out that for the upper brackets, there's more revenue and simplifies the system, and at its best, the tax code is designed to be as simple as possible which is a mess right now, and if you clear that out, people going back to making profit. when i was growing up, profit was a six-letter word, but now it's a four-letter word, and if you make a profit, people want to punish you. gerri: if it was simple, people wouldn't know what to do. >> i do, i understand, but that's the way we get taxes in is that people make more profit, then we have more tax revenue. gerri: what about what bowles had to say in i want you to listen to him. >> okay. >> i'm not encouraged or discouragedded. i'm really worried that we have a real probability we could go over the cliff, and that would be catastrophic. gerri: here's somebody
decimated but gop senators say it is proof rice was putting pre-election spin before national security. >> it was unjustified to give the scenario as presented by ambassador rice and president obama three weeks before an election. >> reporter: ambassador rice, what do you say to republicans who say your comments were politically motivated? rice didn't answer our question but admitted her talking points were, quo, incorrect in a key respect. there was no protest or demonstration in benghazi. while we certainly wish that we had had perfect information just days after the terrorist attack, as is often the case, the intelligence assessment has evolved. we stressed that neither i nor anyone else in the administration intended to mislead the american people at any stage in this process. and the white house had this to say. >> the focus on some might say obsession on comments made on sunday shows seems, to me, and to many, to be misplaced. >> reporter: gop senators also complain rice neglected to ask key questions before telling the public what turned out to be wrong information. >> that's tr
and the shareholders who elect these individuals allow companies to move assets to the highest form? john malone constantly spins off things shuffling paper. looking to not only grow intrinsic value, but allowing it to surface. if you just bought a basket of securities that dr. malone had over the years, you'd have compounded assets at about a 15% the last 20 to 30 years. buffett does something else, buys and holds. irene rosenfeld, i said she's going to buy cadbury, she took it, put it into a package, spun off kraft. mondelez is a fantastic asset. another example, hillshire, sarah lee, we talked about that spinning off. look at the pieces. what are the elements that are worth? hillshire is a company 120 million shares, the stock's around $25, $3 billion market cap, basically the company sells protein for breakfast, jimmy dean sausages, the sausage category, how big is it? >> might be a little fat -- >> lunch meat. joe -- >> well, it's sausage. i want it. i eat it, i want it. i'm telling you it's not all protein. this is good. >> hot dogs, joe. >> just sort of in a trance. it's sort of a relief,
for the himpingts after the election republicans believe taxes should be raised on the wealthy but they should not be for two reasons. you should ask people what the wealthy pay in taxes. most people have no idea that 1% pays 40% of the taxes. do no warm, hippocratic oath. the cbo says if you raise taxes on the rich people you'll underperform the economy by a point. why do it at all, larry? >> do y do it the all all. the white house put out a study saying if we fall off the fiscal cliff consumers will lose 200 billion worth of sales, maybe income, too. why are we doing this, keith boyakin? >> two things. first of all, part of the reason, in response to layer, why 1% of the top earners pay 40% of the taxes is because they control 42% of all the income and wealth in the country so there's a great deal of income inequality in our country. we'll debate that larry. but second question, getting back to what you said, laurie kudlow, the white house report didn't say that raising tax on everyone was a problem. it said that raising taxes on the middle class would cause a $200 billion crimp or reduction
today, ying that elections have consequences, and this one americans voted for this. yoyou can. i don't know they voted on more spending. >> there is some truth to what you say. >> a lot. >> all truth. neil: a little. >> we're in the pregehmannal sis, thi -- we in the pregame analysis, does everyone believe we're getting threw this without any spending cuts, of course, not, here is what is going on happen decemr 31 we take steps to resolve some tax issues, it will have a lot to did with how we approach taxes next year, you will seeesome discussion, on cutting some spending but is that going to be carried over? neil: here is what i'm worried about. my point is -- >> you and i will remember this you were not even born. >> 92 neier was i then. neil: you are right. >> he was responsible. neil: idea was, i will raise taxes if you guise come back with spending cuts, he raised taxes, they did notome back with spending cuts. are republicans risking going down the same politically disastrous road. >> we have to cut a lot. there is so much waste. neil: you know closing loopholes and that. grove
was running for reelection and chrysler was the biggest employer and i got the highest% of election because i suck my principles. the professionals knew that if they got inrouble, they were big enough to make a stink and to go down. neil: but now things have switched. now they have gone from too big to fail. >> up the speech that i gave and i was very unpopular in the mission michigan delegation. i voted against the appropriation. [talking over each other] ronald reagan might get. >> the point was it was a mistake then. not only for chrysler, because we had to bail them out again 25 years later, how can we have financial markets that have been disciplined where mistakes and errors go unpunished? you can. capitalism doesn't work that way. neil: i agree with you. you bertie concerned me. we had no choice because there was a financial abyss waiting. but if we can stabilize, the whole world would have collapsed. i've been spending the last 2.5 years writing a bo on this very topic that will be coming out next winter. take aig. they had written proper rules, they wouldn't have had these problems.
. >> although the president is in a position, he's not running for re-election again, kind of look at things -- >> he's in a position of compromise you would think. 2014, if you can get a democratic house, then you can consolidate everything and you can get a democratic house how? by making them -- >> by saying the republicans are -- >> obstructionists, blah, blah, blah. >> and then you play for the last two years. >> playing to just consolidate all your redistribution. >> i get it, but also a tough way to play the game. >> did you see drudge? >> i did. >> bush 3. >> jeb bush talking about 2016. >> and then christy -- >> already talking about 2016. >> we are. and christie is getting his re-election campaign ramped up. he has unprecedentedly high approval rating. >> after sandy. and he says this is a job he feels leak he needs to continue. >> stanley wants him to stay. some other corporate news involving erickson. it's filed a lawsuit against samsung alleging patent infringement. ericcson says two years to trike a deal were unsuccessful. and an hp shareholder filed a lawsuit alleging the tech
: joining us now is congressman louie gohmer, elected to a' term and vice chair of the committee on terrorism and homeland security and served as chief justice for the 12th court of appeals. let's start with the fiscal cliff. i want to go to your call for a special prosecutor. on benghazi, but, going to the fiscal cliff, the speaker making it very clear, that he's going to approach the negotiation of the white house, on the cliff, positively with some sense at least of accommodation, potential accommodation, if his terms are met. that is positive stuff, don't you think? >> well, it is positive. but, there's a lot of pressure, right now, and, of course, pressure is what you can use to take care bonn and make diamonds. this is the time to be bold. this is not the time to be defensive and i'm glad the speaker has come forward with a proposal but, the thing is, we ought to be taking the president's words and sticking them back with him. he wants everybody to pay their fair share. let's do it. let's have capital gains, 15%. let's have income tax, 15%, gift taxes, 15%, let's make sure
election. so there you have it. >> dana, real quickly here, what does she want to know from ambassador rice? is there something specific that she didn't get, part of an explanation that she needs to know he in order to resolve this? >> reporter: well, she has lots of questions but she did introduce a new wrinkle into the whole question about susan rice's qualifications or experience, probably the better way to put it, and that wrinkle is that back in 1998, the bombings of the u.s. embassies across africa, susan rice at the time was assistant secretary of state for africa. so what senator collins said she was asking was whether or not she was part of the team that denied those embassies who apparently were begging at the time for more security, deny them more security. what senator collins said is that ambassador rice said she would have to refresh her memory, it was a lot of years ago, her role in that process. that's a new wrinkle here. we've heard a lot about benghazi and the current history but not going back all of those years. >> dana, thank you so much. i want to focus on what senator
in the fiscal cliff tops we're having on capitol hill. honesty and one of the union says elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cu. as for the effectiveness of this campai one conservative says this type pressure from unio is nothing new. >> the fact that they are publicly sayinghat they have been privately saying helps the american people understand where obama's in trend and comes from but nothing has changed. >> the issue is in the fiscal cliff discussion democrats appear willing to put entitlements and spending on the table. republicans saying they're willing to do tax revenue and that could be or would be the key to any agreement to avoi the fiscal cliff and get the country's books back in order. gerri: you will be covering this for a long time. thanks for that. this black friday wal-mart shoppers think protests, it is not a superstore workers on the picket line. jeff flock joins us with more. jeff: a few of them but the majority were not wal-mart workers
says he is stepping down from the ranks. just weeks ahead of the general election. the former general and one-time prime minister said he will stay at his post until a new government is formed. those are your headlines. back to dagen and connell. dagen: online black friday sales topping a record. $1 billion. connell: we want to know about today. supposed to be this big day online. we have sent adam shapiro out there. >> 1.2 million square feet. they have 40 of these centers throughout the united states. this is the largest. we are on a 15 minute rate. they will come back at 11:30 a.m. they have been going 247. anybody who is selling online. at amazon.com, they will sell more than 200 items per second. last year it was 204 items per second. they expect revenue in the fourth quarter to be 16 to possibly 30% higher. i want to give you a quick shot of that area i am in. they take them out and put them in the yellow fins. they are said further down the line to the pickers. then they package it. then it is sent to your house. we will talk to an exeeutive about the numbers and billion dollar
to take it. >> steve: something that the state of california did on election day raised taxes on people who were success . and you are making california your number two turkey. >> they are a shoo in for the label turkey. what other state goes from the most prot perous in the world a generation ago to abject poverty and the highest poverty rate and taxes in the nation and highest sales taxes and exodus of jobs and middle class people. they are bankrupt by any other thame and they are a turkey state. >> brian: they are even losing the movie industry. they are going elsewhere to do movies and number one over all. >> france. you have to pick a country as leading turkey of the world and france gets it. not only bruce and elect a socialist as the head of france he raises taxes and he lowers the retirement age from 62 to 60. at a time like this, you lower retirement age? you are bank rument to start with. that is nonsense. >> steve: that's funny you are using spanish. turkey in french word. and we'll watch you in fox business starting at 9:20 on this. >> it will be a fun turkey day show. >> br
ever. after many hear their elected leader has driven the wedge deeper and wider. at dawn, there were more tents and protesters around tahrir square, but that didn't stop clashes with police, where protesters blocked traffic defying president mohamed morsi's orders. after morsi declared sweeping powers for himself, leaving him above the law. >> translator: we are here because the goals of the revolution have yet to be achieved. >> reporter: morsi told his supporters he had to take radical measures to protect the revolution. and fast track a new constitution being written by a mostly islamist assembly, after which he said he'd give up those powers. yes, he might be a dictator for the time being, but these powers will be transferred to an elected parliament, he said. but the decrees have triggered protests and riots across the nation. dozens were injured in alexandria when angry youth stormed and set fire to morsi's muslim brotherhood headquarters. this action makes him a dictator even more than hosni mubarak, he said. critics call it a power grab, after brokering a cease fire deal in g
've got a house election in two years -- less than two years. >> although, i don't think this is about electoral politics right now. this is about -- this is about dollars and cents for specific interest groups, constituents, supporters of these politicians and their ideological views. so, look, it's not easy to do. and i believe at the end they'll do it, but this is part of the dance, you know, before it gets super intense. >> and you know what else it is? it's sausage being made and it's ugly to watch. but then -- and then i think about closing loopholes. and name your loophole, and i can give you a two-year argument. mortgage. oh, it's going to kill the housing industry, charity, we can talk for two years, what will it do to charity? >> universities and -- yes. >> you name any sacred cow. that's why it's sacred, it's a sacred cow. >> state and local tax deductions, oh, my god, what's that going to do to new york? >> is it easier to do the cap and that gives you the nebulous, well, we're not hurting anyone -- >> yes. >> would that work? >> yes. i mean, a lot of tax policy experts lik
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